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Transcript of Japan Inc. A Miracle A Model: The East Asian Strategy From: .
Japan Inc.• A Miracle
• A Model: The East Asian Strategy
• From: http://benmuse.typepad.com/ben_muse/2005/11/changes_in_inco.html
Economic Philosophy• Nationalism/Protectionism
• Exports
Rich Nation, Poor People
“Salaryman” Capsule Hotels
What is Japan Inc.?
1. Business-Government relations
2. Industry-Industry relations
3. Labor-Management relations
Business-Government relations
• Partnership• Yoshida Doctrine• “GNPism”
• Yoshida Shigeru• PM 1946-7, 1948-54
Administrative Guidance
Ministry of Economy, Trade, and Industryformerly Ministry of
International Trade
and Industry
(MITI)
•The Visible Hand?
2. Industry-Industry relations
Pre-war Zaibatsu
• Mitsui
• Mitsubishi
• Sumitomo (Mazda, NEC)
• Yasuda (dismantled post-WW II)
Post-War Keiretsu
From: http://www.wtec.org/loyola/polymers/c7_s7.htm
3. Labor-Management Relations
• 1950s: the end of independent unions
• Company Unions
• Lifetime Employment
Dilemmas
• Inflexibility
• Protectionism and competition
• Innovation?
Collapse of Bubble Economy, 1990
Pay back loans
Build factories
Loans Hire people Buy land
Build offices
Pay back Loans
Banks
Government
Companies
GDP Growth in Japan1956-2008
Japanese GDP
From Sian Fenner, The Japanese economy and future growth prospects, Department of the Treasury, Australia, http://www.treasury.gov.au/documents/817/HTML/docshell.asp?URL=05_article_4.asp
Another Look
From: http://japanjapan.blogspot.com/2008/02/japan-q4-2007-gdp.html
GDP Growth 1980-2013